Yomiuri, June 1, 2005
Japan Post is set to face criticism for crowding out private competition after it found that 2.3 million people had more than the legal limit of 10 million yen in their postal savings accounts, The Yomiuri Shimbun learned Tuesday.
A Japan Post report also revealed that the total outstanding balance of deposits in excess of the limit set by the Postal Savings Law totaled about 2.5 trillion yen.
Postal savings deposits are a special financial product guaranteed by the government, unlike those of private financial institutions.
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Who the hell would keep 10 million yen in a Japanese bank account anyway?? Talk about self-defeating behavior!
